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Suppose the Bank of Montreal is offering a 30-year mortgage with an EAR of 5.375%. If you plan to borrow $160,000, what will your monthly

image text in transcribed Suppose the Bank of Montreal is offering a 30-year mortgage with an EAR of 5.375%. If you plan to borrow $160,000, what will your monthly payment be? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $ (Round to the nearest cent.)

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